TPS Posted March 18, 2013 Share Posted March 18, 2013 If you guys want to talk wealth confiscation... Link to comment Share on other sites More sharing options...
Nanker Posted March 18, 2013 Share Posted March 18, 2013 We've given up. Reap the whirlwind. Link to comment Share on other sites More sharing options...
Magox Posted March 18, 2013 Share Posted March 18, 2013 I was actually thinking about beginning a thread on this topic. What's craziest to me about all this is that the EU crafted the deal, I mean it would be one thing if it was something that would of been proposed by their government, it's another to have the EU and IMF put their official stamp of approval. I understand their goal, get all that money from the Russian Oligarchs, who have been evading taxes, but the mechanism that they used by casting such a wide net, that ensnares so many other people is astonishing. Accounts under 100k Euros will get "taxed" (confiscated) at 6.75% and accounts over 100K at 9.99%. Doesn't surprise me that there is a run on their banks, I just don't see how this will be a positive development. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted March 18, 2013 Share Posted March 18, 2013 I was actually thinking about beginning a thread on this topic. What's craziest to me about all this is that the EU crafted the deal, I mean it would be one thing if it was something that would of been proposed by their government, it's another to have the EU and IMF put their official stamp of approval. I understand their goal, get all that money from the Russian Oligarchs, who have been evading taxes, but the mechanism that they used by casting such a wide net, that ensnares so many other people is astonishing. Accounts under 100k Euros will get "taxed" (confiscated) at 6.75% and accounts over 100K at 9.99%. Doesn't surprise me that there is a run on their banks, I just don't see how this will be a positive development. Russia goes to war over this. Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 I was actually thinking about beginning a thread on this topic. What's craziest to me about all this is that the EU crafted the deal, I mean it would be one thing if it was something that would of been proposed by their government, it's another to have the EU and IMF put their official stamp of approval. I understand their goal, get all that money from the Russian Oligarchs, who have been evading taxes, but the mechanism that they used by casting such a wide net, that ensnares so many other people is astonishing. Accounts under 100k Euros will get "taxed" (confiscated) at 6.75% and accounts over 100K at 9.99%. Doesn't surprise me that there is a run on their banks, I just don't see how this will be a positive development. Coming soon to a bank near you. Link to comment Share on other sites More sharing options...
DC Tom Posted March 18, 2013 Share Posted March 18, 2013 I was actually thinking about beginning a thread on this topic. What's craziest to me about all this is that the EU crafted the deal, I mean it would be one thing if it was something that would of been proposed by their government, it's another to have the EU and IMF put their official stamp of approval. I understand their goal, get all that money from the Russian Oligarchs, who have been evading taxes, but the mechanism that they used by casting such a wide net, that ensnares so many other people is astonishing. Accounts under 100k Euros will get "taxed" (confiscated) at 6.75% and accounts over 100K at 9.99%. Doesn't surprise me that there is a run on their banks, I just don't see how this will be a positive development. I heard someone postulate on the radio this morning that, because of Cyprus' banking laws, this is basically designed to screw over Russian mobsters hiding their money in Cyprus. Which would be amusingly astute, if true. Link to comment Share on other sites More sharing options...
KD in CA Posted March 18, 2013 Share Posted March 18, 2013 Coming soon to a bank near you. Yup, the groundwork is already being laid. Just look at the lemmings on this board repeating the government's "hoarders" mantra. Ohhh....must punish those evil people for saving money!!! Link to comment Share on other sites More sharing options...
TPS Posted March 18, 2013 Author Share Posted March 18, 2013 I was actually thinking about beginning a thread on this topic. What's craziest to me about all this is that the EU crafted the deal, I mean it would be one thing if it was something that would of been proposed by their government, it's another to have the EU and IMF put their official stamp of approval. I understand their goal, get all that money from the Russian Oligarchs, who have been evading taxes, but the mechanism that they used by casting such a wide net, that ensnares so many other people is astonishing. Accounts under 100k Euros will get "taxed" (confiscated) at 6.75% and accounts over 100K at 9.99%. Doesn't surprise me that there is a run on their banks, I just don't see how this will be a positive development. It's already happening in the form of depositors taking what they can out of ATMs. They declared a bank holiday for today, and possibly continue tomorrow until they do something to calm people down. Link to comment Share on other sites More sharing options...
TPS Posted March 18, 2013 Author Share Posted March 18, 2013 I heard someone postulate on the radio this morning that, because of Cyprus' banking laws, this is basically designed to screw over Russian mobsters hiding their money in Cyprus. Which would be amusingly astute, if true. I read that on a blog yesterday. The EU (German) and IMF bankers better get some more protection if that is the case... Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 It's already happening in the form of depositors taking what they can out of ATMs. They declared a bank holiday for today, and possibly continue tomorrow until they do something to calm people down. Here's a way to calm people down. Don't tax bank deposits. Link to comment Share on other sites More sharing options...
GG Posted March 18, 2013 Share Posted March 18, 2013 I heard someone postulate on the radio this morning that, because of Cyprus' banking laws, this is basically designed to screw over Russian mobsters hiding their money in Cyprus. Which would be amusingly astute, if true. Who else in 2013 would still hold millions in a Cypriot bank account? Link to comment Share on other sites More sharing options...
Jauronimo Posted March 18, 2013 Share Posted March 18, 2013 Who else in 2013 would still hold millions in a Cypriot bank account? Cyprussians? Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 Who else in 2013 would still hold millions in a Cypriot bank account? Guilty as charged. Link to comment Share on other sites More sharing options...
Dean Cain Posted March 18, 2013 Share Posted March 18, 2013 Here's a way to calm people down. Don't tax bank deposits. It is my understanding that only foreign depositors are being taxed. Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 It is my understanding that only foreign depositors are being taxed. Not according to the financial times. http://www.ft.com/intl/cms/s/0/59303aee-8ff7-11e2-9239-00144feabdc0.html#axzz2Nvg4pBz7 Link to comment Share on other sites More sharing options...
B-Man Posted March 18, 2013 Share Posted March 18, 2013 Coming soon to a bank near you. "Eich ein Cypriot" or "We are all Cypriots now" . Link to comment Share on other sites More sharing options...
We Come In Peace Posted March 18, 2013 Share Posted March 18, 2013 Russia goes to war over this. With Cyprus? Or the entire EU? Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 With Cyprus? Or the entire EU? With Aliens. Prepare yourself. Link to comment Share on other sites More sharing options...
We Come In Peace Posted March 18, 2013 Share Posted March 18, 2013 With Aliens. Prepare yourself. Dammit! I knew it! Link to comment Share on other sites More sharing options...
meazza Posted March 18, 2013 Share Posted March 18, 2013 Dammit! I knew it! Stay safe old friend. Link to comment Share on other sites More sharing options...
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